Six stock analysts leave Goldman in reorg

EmilyChurch

Goldman Sachs'
GS, -0.72%
equity research department has dropped or suspended coverage on about 50 stocks, including AOL Time Warner
aol
Washington Mutual
WM, +0.12%
and Boise Cascade Corp
BCC, +1.42%
after six analyst left the firm. Goldman, in a series of industry notes to investors on Wednesday, announced that each of the analysts had left the firm. It didn't disclose a reason for the departures. Officials for Goldman in London were not available for comment. According to Bloomberg, the analysts were dismissed as part of a reorganization prompted by the probes into misleading advice. The notes said that U.S. media analyst Rich Greenfield had left the firm, leading Goldman to drop coverage of stocks such as Cablevision Systems Corp.
CVC, -1.52%
and Charter Communications
CHTR, -2.07%
It said it suspended coverage of AOL and Fox Entertainment Group
FOX, +0.68%
News Corp.
NWS, +0.00%
and Walt Disney
DIS, -0.76%
"pending the transfer to another Goldman Sachs analyst" and that it expects to re-initiate coverage of the cable and entertainment sector in the future. Other analysts that it said have left the firm include Mark Weintraub, U.S. paper and forest products analyst; Howard Shapiro, who covered the mortgage finance sector; Gordon Lee, who covered Mexican stocks such as Alfa Cemex
CX, -1.31%
; Tim Newington, who covered printing and some Canadian stocks such as Cogeco Cable and Rogers Communications. The notes to clients show that Jonathan Dorfman, who also covered some Canadian stocks, left Goldman as well.

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